Three Key Indicators for DSI's Performance in Countering Foreign Exchange Leakage
The mandate of PT Danantara Sumber Daya Indonesia (DSI) as a state-owned enterprise (SOE) is expected to function as a national economic control centre.
Senior Analyst at Indonesia Strategic and Economic Action Institution (ISEAI), Ronny P. Sasmita, stated that there are three key indicators to measure DSI’s effectiveness from the outset of its transformation.
“These indicators include a measurable increase in retained export foreign exchange within the country, transaction transparency through inter-agency data integration, and economic efficiency that maintains business competitiveness,” Ronny said in a statement on Tuesday (27 May).
He added that the agency is tasked with ensuring the country has transparency and full control over the flow of strategic commodity foreign exchange.
These conditions will enable the new agency to effectively carry out its oversight functions.
“The presence of DSI can be seen as a structural correction tool for the country so that natural wealth does not remain just an export figure, but truly becomes a source of fiscal strengthening, monetary stability, and national development financing,” he added.
An integrated transaction tracking system is seen as having significant potential to close loopholes often exploited by commodity exporters, such as under-invoicing and transfer pricing practices.
Current commodity oversight issues often stem from fragmented data and weak inter-agency coordination.
“When export, customs, tax, banking, and foreign exchange data are within one interconnected ecosystem, the scope for manipulation automatically narrows drastically,” he added.
According to Ronny, DSI’s integrated system could be a game-changer if accompanied by appropriate incentives and disincentives.
Exporters will essentially follow the economic incentive structure.
When parking foreign exchange domestically offers competitive benefits, such as flexible usage, specific tax incentives, or regulatory certainty, compliance will increase.
Ronny assessed that DSI could be one of the most significant structural interventions in the past decade to strengthen the rupiah’s stability.
This is because Indonesia frequently faces high commodity surpluses yet recurring pressure on the rupiah.